Universal Corporation Reports Lower Sales in Indonesia

Universal Corporation reported that net income for the nine months ended December 31, 2017, was $75.1 million, higher than $73.4 million in the same period of 2016. But it reported lower sales in Indonesia on lack of wrapper tobacco availability from the weather damaged crop. Indonesian wrapper volumes and quality have recovered in the subsequent crop, which will be available for sale beginning in early fiscal 2019.

Headquartered in Richmond, Virginia, Universal Corporation is the leading global leaf tobacco supplier and conducts business in more than 30 countries. Its revenues for the fiscal year ended March 31, 2017, were $2.1 billion.